Property details

Illinois Hotel For Sale, Great Lakes - Big Rivers Region

Property Description

Illinois Hotel For Sale

This is an Off-Market, Confidential, Controlled and Deliverable Property.

125 unit hotel located in northeastern IL.
Seller is open to any and all offers.
The hotel rooms are convertible to studios and mini apartments.
On property there is a pool, fitness center, 12,000 sq ft of banquet space, and a restaurant.
All can be terminated upon sale to a potential buyer.
The property does about $2.5 million in total revenues currently.
Priced at 3 times revenue which is the standard in the industry.
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Images

Highlights

Status:

Available

Price:

$7,500,000

Cap Rate:

8.00%

Property Information

Property Type:

Hotel

Industry Type:

Hotel - Motel - Inn

Units/Spaces:

125

Purchase Tenure:

Fee Simple

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.